Which of the Following Is NOT Among the Three Primary

question 3

Multiple Choice

Which of the following is NOT among the three primary factors that should be considered for each risk scenario identified?

• A)probability of occurrence
• B)personnel involved in the scenario
• C)magnitude of the impact
• D)difficulty of timely detection

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Definitions:

Internal Users

Individuals inside a company who use financial information to make decisions, such as managers.

Managerial Accounting

The process of identifying, measuring, analyzing, and interpreting accounting information to help managers make informed business decisions.

Organization

An entity comprising multiple people, such as a corporation or partnership, formed for a collective goal.

Goal Setting

Goal setting involves defining specific, measurable objectives that a person or organization aims to achieve within a time frame.